Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
112.7M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
-2.22%.
Starting with 112.7M and growing at -2.22%
for 5 years, we estimate Free Cash Flow will be
100.73M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 70.48M.
We will project this out 5 year(s) with a growth rate
of 2.15%.
Estimated Diluted Shares Outstanding: 78.39M.
Step 3: Project Future Stock Price
Using a price ratio of 20.53, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(100.73M ÷ 78.39M) × 20.53 =
$26
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.12.
Projected over 5 years with a growth rate of
-4.56%, dividends add to total shareholder return.
Expected dividends in 5 years:
$4.983266388063935.
Step 5: Discount the Projected Stock Price
Projected stock price: $26.
Including dividends, total future value: $30.98.
Discounted at 10% per
year over 5 years → Fair Value:
$19.
